WhiteWave to draw on revolver for $550 million acquisition of Vega

New York, June 9 – WhiteWave Foods Co. said it will use borrowings from its $1 billion revolving credit facility to fund the acquisition of Vega for $550 million in cash.

WhiteWave announced the acquisition late on Tuesday.

Closing is expected in the third quarter.

WhiteWave said it believes Vega is “in the early stages of its growth cycle.”

Over the past 12 months, Vega had sales of $100 million, an increase of 30%. Growth has accelerated so far this year.

WhiteWave is a Denver-based consumer packaged food and beverage company. Vega, based in Vancouver, B.C., produces plant-based nutrition products, primarily powered shakes and snack bars.

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